Overview
Kidder Mathews, as exclusive advisor, is pleased to present the unique opportunity to acquire the fee simple interest in LeCota (the “Property”), a stabilized ±84,658-square-foot multi-tenant office/medical campus situated along Bell Road in North Phoenix.
The Property offers an attractive mix of diverse medical and professional tenancy, with a Weighted Average Tenant Tenure of nearly 9 years. Benefiting from a ~92.4% occupancy rate across 40 tenants, the campus provides immediate cash flow while still leaving room for further lease-up and medical conversion opportunities.
LeCota is ideally positioned in the high-demand Deer Valley submarket, with immediate access to the Loop 101, I-17, and SR-51 freeways. This strategic location delivers excellent regional connectivity and visibility, courtesy of strong daily traffic counts along Bell Road. Anchored by leading healthcare facilities, robust population growth, and a highly skilled workforce, North Phoenix continues to attract a diverse array of users.
Investment Highlights
STABLE FINANCIAL PERFORMANCE
- Diverse Tenant Base: No single tenant exceeds 8% of the rent roll, reducing rollover risk and ensuring consistent income.
- Favorable Lease Structure: A weighted average lease term (WALT) of 3.8 years and a desirable average tenant size of roughly 2,000 SF contribute to low tenant turnover and stable cash flows.
FUTURE GROWTH OPPORTUNITIES
- Balanced Tenant Mix: Approximately 45% medical and 55% professional office users, with flexibility to further convert suites to medical use, capitalizing on high demand in the region.
- Upside Conversion Potential: Opportunity to upgrade spaces to spec suites to align with market demand trends and secure higher rental rates.
STRONG LOCAL DEMOGRAPHICS
- Strong Population Growth: Within a 1-mile radius, the population exceeds 25,000, expanding to approximately 140,000 within 3 miles—creating a large built-in customer and tenant base.
- Favorable Income and Education Trends: Median household income in the immediate area is ~$58,000, with a sharp rise in educational attainment—bachelor’s degrees have increased by 40% over the past decade.
Lease Expirations
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